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In recent years compliance issues have
become increasingly significant and important to financial
institutions. Many of the firms we represent will not be able
to consider a Financial Advisor that has more than three marks
(dings) on their U-4 or that has a documented complaint that is
still pending. If you are fighting an open dispute it is best
to have the backing of your current firm. A new company will
not wish to take on this responsibility and your present firm
will no longer feel an obligation once you have changed
affiliations.
If you have less than three marks but one
or more were settled for a substantial amount this can also pose
a challenge as well. If you have more than three marks but
there were multiple marks from one circumstance, we can
sometimes work around that in certain situations.
The hiring firm will need a written
explanation from you about the circumstances of the complaint to
submit to compliance. Many times that is enough, although large
and/or trade-related issues will often require further
explanation.
If you would like to view your U-4 go to
http://www.finra.org/brokercheck. This is public information that
anyone can request.
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